Nuveen LLC Purchases New Holdings in FB Financial Corporation $FBK

Key Points

• Nuveen LLC acquired 847,176 shares of FB Financial Corporation, valued at approximately $39.3 million, increasing its ownership to about 1.84% of the company.
• FB Financial's stock recently had a price drop of 1.1%, with shares trading at $50.47 and a market cap of $2.72 billion.
• The company announced a quarterly dividend of $0.19 per share, representing a 1.5% yield, with an ex-dividend date set for August 12th.

Nuveen LLC acquired a new stake in FB Financial Corporation (NYSE:FBK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 847,176 shares of the financial services provider's stock, valued at approximately $39,275,000. Nuveen LLC owned about 1.84% of FB Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FBK. Meeder Asset Management Inc. acquired a new stake in shares of FB Financial in the first quarter valued at approximately $33,000. Sterling Capital Management LLC raised its stake in FB Financial by 810.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 997 shares in the last quarter. GAMMA Investing LLC raised its stake in FB Financial by 36.7% during the 1st quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock valued at $64,000 after acquiring an additional 370 shares in the last quarter. CWM LLC boosted its position in FB Financial by 58.2% during the 1st quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock worth $77,000 after acquiring an additional 611 shares during the period. Finally, LPL Financial LLC bought a new position in shares of FB Financial in the fourth quarter worth $206,000. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Price Performance

Shares of FBK traded down $1.0270 during mid-day trading on Wednesday, hitting $50.0430. The company's stock had a trading volume of 157,152 shares, compared to its average volume of 275,321. The firm has a 50-day moving average price of $47.20 and a 200 day moving average price of $46.32. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $58.88. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 25.93 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last issued its earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). The business had revenue of $76.86 million for the quarter, compared to the consensus estimate of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. As a group, equities analysts anticipate that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial's payout ratio is 39.38%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FBK shares. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $52.00 to $58.00 in a report on Friday, July 11th. Wall Street Zen lowered shares of FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, FB Financial presently has a consensus rating of "Buy" and a consensus target price of $58.25.

About FB Financial

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.